LACK OF CONFIDENCE

New Zealand Herald, Volume LXXIII, Issue 22350, 22 February 1936, Page 15

LACK OF CONFIDENCE

ROOSEVELT ADMINISTRATION AMERICAN BANKER'S OPINION Lack of confidence in the Roosevelt Administration was expressed by Mr. Owen Taft, a retired banker, of Watch Hill. Rhode Island, who arrived atAuckland by the Mariposa yesterday. " We are oor.iing back in America, but if our misrulcrs did not try so hard and would let human nature tak*» its course, we would come back a lot quicker," said Mr. Taft. The currency was being inflated all the time by the Government's policy of issuing bonds for the payment of its debts, continued Mr. Taft. The bankers were the only people with whom the Government had any credit now, for the public would not touch Government bonds, which cajried only 2 or 3 per cent interest. Mr. Taft, who is accompanied by Mrs. Taft, intends to spend 10 days touring the North Island by motorcar. A similar lack of confidence in the Roosevelt Administration, and concern for the increase in the country's debts, were expressed by Mr. Albert Beck, formerly vice-president of Harris, Forbes and Company, one of the largest firms of brokers in America. "Things are better in spite of Roosevelt, but the future is alarming," said Mr. Beck. "As a man brought up in the banking tradition, I can't help viewing with alarm the tremendous increase in our debts through such • large spending of money by the Government, for we have to foot the bill in the end." Whether Mr. Roosevelt would be reelected President was an open question, continued Mr. Beck. Governor Alfred Landon, of Kansas, was considered by the Republicans as the logical candidate to oppose Roosevelt. "I believe he is the strongest candidate we have, and I certainly hope he gets the nomination," said Mr. Beck, who described himself as an independent Republican in politics.